Barclays sails out of choppy waters

Van de Merwe
Van de Merwe

Barclays Bank Botswana has turned the corner to register profit growth for the first time in three reporting periods on the back of a robust increase in non-interest income.

In an environment characterised by tight liquidity, squeezed interest margins and a freeze on bank charges, Barclays Bank recorded a 16 percent rise in profit after tax to P335.9 million for the full year ended December 2014.

The 16 growths represent a weighty recovery from the 34 percent and 18 percent profit plunge suffered in 2013 and 2012 respectively.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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